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E-Business

The Dark Side of Mobile Apps

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Mobile device security threats are on the rise and it’s not hard to see why. In 2019, the number of worldwide mobile phone users is forecast to reach 4.68 billion of which 2.7 billion are smartphone users.

 

So, if you are looking for a target, it certainly makes sense to go where the numbers are. Think about it, unsecured Wi-Fi connections, network spoofing, phishing attacks, ransomware, spyware and improper session handling – mobile devices make for the perfect easy target.

 

In fact, according to Kaspersky, mobile apps are often the cause of unintentional data leakage.

 

“Apps pose a real problem for mobile users, who give them sweeping permissions, but don’t always check security,” said Riaan Badenhorst, General Manager for Kaspersky in Africa.

 

“These are typically free apps found in official app stores that perform as advertised, but also send personal – and potentially corporate – data to a remote server, where it is mined by advertisers or even cybercriminals. Data leakage can also happen through hostile enterprise-signed mobile apps. Here, mobile malware uses distribution code native to popular mobile operating systems like iOS and Android to spread valuable data across corporate networks without raising red flags.”

 

In fact, according to recent reports, six Android apps that were downloaded a staggering 90 million times from the Google Play Store were found to have been loaded with the PreAMo malware, while another recent threat saw 50 malware-filled apps on the Google Play Store infect over 30 million Android devices. Surveillance malware was also loaded onto fake versions of Android apps such as Evernote, Google Play and Skype.

 

Considering that as of 2019, Android users were able to choose between 2.46 million apps while Apple users have almost 1.96 million app options to select from, and that the average person has 60-90 apps installed on their phone, using around 30 of them each month and launching 9 per day – it’s easy to see how viral apps take several social media channels by storm.

 

“In this age where users jump onto a bandwagon because it’s fun or trendy, the Fear of Missing Out (FOMO) can overshadow basic security habits – like being vigilant on granting app permissions,” said Bethwel Opil, Enterprise Sales Manager at Kaspersky in Africa.

 

“In fact, accordingly to a previous Kaspersky study, the majority (63%) of consumers do not read license agreements and 43% just tick all privacy permissions when they are installing new apps on their phone. And this is exactly where the danger lies – as there is certainly ‘no harm’ in joining online challenges or installing new apps.”

 

However, it is dangerous when users just grant these apps limitless permissions into their contacts, photos, private messages, and more. “Doing so allows the app makers possible, and even legal, access to what should remain confidential data. When this sensitive data is hacked or misused, a viral app can turn a source into a loophole which hackers can exploit to spread malicious viruses or ransomware,” added Badenhorst.

 

As such, online users should always have their thinking caps on and be more careful when it comes to the internet and their app habits including:

 

Only download apps from trusted sources. Read the reviews and ratings of the apps as well

 

Select apps you wish to install on your devices wisely

 

Read the license agreement carefully

 

Pay attention to the list of permissions your apps are requesting. Only give apps permissions they absolutely insist on, and forgo any programme that asks for more than necessary

 

Avoid simply clicking “next” during an app installation

 

For an additional security layer, be sure to have a security solution installed on your device

 

“While the app market shows no signs of slowing down, it is changing. Consumers download the apps they love on their devices which in turn gives them access to content that is relevant and useful. The future of apps will be in real-world attribution, influenced by local content and this type of tailored in-app experience will lead consumers to share their data more willing in a trusted, premium app environment in exchange for more personalised experiences. But until then, proceed with caution,” concluded Opil.

 

 

 

 


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E-Business

Firm Finds Leaked Netflix, Roblox and Discord Accounts Registered on Corporate emails

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Employees may also use corporate emails to register for personal accounts on marketplaces and social media, increasing the risk of account theft and corporate security breaches, according to a study by Kaspersky Digital Footprint Intelligence.

Kaspersky shares these findings and suggests key cybersecurity practices to mitigate the risks of credential leaks.

Kaspersky experts analysed compromised credentials leaked on the dark web between 2019 and 2024 for three popular entertainment platforms: Roblox, Discord and Netflix. The analysis revealed that, on average, 7% of users whose accounts were leaked had registered on these platforms using a corporate email address.

“Registering on various services for personal use with a work email is not best practice. First, you may lose access to these accounts if you change jobs. Second, it can pose security risks for both you and your company.

“If your passwords follow a predictable pattern across different services – for example, ‘Word2025!’, where ‘2025’ is a recurring part – it increases the likelihood of other accounts being compromised, including your work account, should your corporate email be exposed in a dark web leak,” explains Sergey Shcherbel, expert at Kaspersky Digital Footprint Intelligence.

Kaspersky experts also found that bank employees most commonly registered their work email addresses on streaming services, marketplaces and social networks. In a few cases, corporate emails were also used as logins on gaming platforms and adult content websites.

Corporate email usage on entertainment platforms: statistics from a sample of 50 banking sector companies.

To conduct this study, experts compiled a sample of 50 banking sector companies and examined compromised credentials leaked on the dark web, identifying those linked to the corporate domains of these companies across five categories of popular platforms.

Learn more in the report. In light of this growing infostealer threat, Kaspersky has launched a dedicated landing page to raise awareness of the issue and provide strategies for mitigating associated risks.

If you encounter a data leak through infostealers, the following steps should be taken immediately:

  • Change compromised account passwords and monitor for suspicious activity associated with those accounts.
  • Run full security scans on all devices, removing any detected malware.
  • Companies are recommended to monitor dark web markets proactively to detect compromised accounts before they pose risks to customers or employees. A detailed guide on setting up monitoring can be found here. Leverage Kaspersky Digital Footprint Intelligence to track what cybercriminals know about your company’s assets, identify potential attack vectors, and implement protective measures in a timely manner.
  • As an enterprise, implement a security awareness program for employees, including regular training and performance assessments. Enforce a strict password policy for all corporate resources to reduce the risks of encountering credential-related cyber threats.

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NDPC, Mastercard Partner to Strengthen Data Protection

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Dr. Vincent Olatunji, commissioner, NDPC and Derek Ho,deputy chief privacy officer, Mastercard
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Nigeria Data Protection Commission (NDPC) has signed a Memorandum of Understanding with Mastercard to enhance data protection in Nigeria.

Dr. Vincent Olatunji, commissioner, NDPC and Derek Ho,deputy chief privacy officer, Mastercard

The agreement was sealed during a workshop where 150 Data Protection Officers (DPOs) were trained on Data Protection Impact Assessments (DPIAs).

Dr. Vincent Olatunji, commissioner, NDPC, said the event kicks off activities for the 8th NADPA conference, highlighting government efforts to train more certified DPOs.

Olatunji also disclosed the Federal Government’s commitment to increasing the number of certified DPOs with the required skills to manage data protection.

He noted that Nigeria’s digital-savvy youth are key to driving this agenda.

“Human capital is really key to us, and the ecosystem we are regulating is very special. It is still new, still emerging, and we need all we can to build the capacity of officers.

“We want to build the capacity of our people so we can be able to deliver on our mandate and fully deepen privacy in Nigeria.

“We are targeting to build the capacity of 250,000 DPOs annually, and we are working with partners like Mastercard to achieve that,” he said.

Derek Ho,deputy chief privacy officer, Mastercard,  also stressed the need for collaboration to build trust in the digital economy and urged participants to embrace training as data protection keeps evolving.

 

 


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CSCS Launches *7270#, USSD Code Service

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Central Securities Clearing System PLC (CSCS) has announced the launch of *7270#, its Unstructured Supplementary Service Data (USSD) code service, set to go live on May 8th, 2025.

CSCS Launches *7270#, USSD Code Service

The USSD code service is an innovative solution designed to enhance the ease and accessibility of investment services for all users.

Also, this service leverages the network capabilities of MTN Nigeria to bring unparalleled convenience to investors.

Driven by a relentless commitment to innovation, CSCS aims to revolutionize information access within the Nigerian capital market through this USSD code service.

As the Central Securities Depository (CSD), CSCS focuses on enhancing investor experiences and providing deeper market insights with unparalleled convenience.

The CSCS USSD code service offers seamless access to essential market information directly from mobile phones, eliminating the need for internet connectivity or specialized trading platforms.

Investors can now effortlessly retrieve Clearing House Number (CHN), check Direct Cash Settlement (DCS) status, view stock positions, account balances, and account status confirmations.

Haruna Jalo-Waziri, managing director/chief executive officer of CSCS, said ” We are excited to launch the *7270# USSD code service, a significant step in leveraging mobile technology to democratize access to account and portfolio information.

“This service empowers every investor, regardless of their location or resources, to stay informed about their investments. At CSCS, we believe that financial inclusivity is key to driving economic growth.

“Our partnership with MTN Nigeria on this project represents a significant leap toward a more inclusive financial landscape, leveraging the spread of the MTN network.

“This collaboration enhances the investing experience, reinforcing our shared commitment to empowering individuals with the tools they need to manage their financial futures effectively.” he added.

The CSCS USSD code service will initially be available to MTN users only. However, CSCS plans to expand this service to other networks soon.

This innovative service offers investors streamlined and secure access to critical market information at their fingertips.

Aisha Umar Mumuni, chief digital officer of MTN Nigeria, said, “This collaboration with CSCS on the *7270# USSD service underscores MTN’s commitment to harnessing the power of mobile technology to simplify complex processes for our users.

“By making critical investment information available at the touch of a button, we are helping to democratize access to the capital markets and, in the process, enhance investor engagement and market transparency,” she said.

CSCS continues to lead the way in technological advancements, reinforcing its position as a pivotal player in the Nigerian capital market ecosystem.

This initiative underscores our dedication to enhancing market efficiency and empowering investors with the tools they need for informed decision-making.

 


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